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R23-007 1 RESOLUTION NO. R23-007 2 3 4 A RESOLUTION OF THE CITY OF BOYNTON BEACH, FLORIDA APPROVING 5 THE PIGGYBACK OF THE CITY OF ORLANDO BANKING SERVICES RFP NO. 6 20-0276 AND AUTHORIZING THE CITY MANAGER TO SIGN THE NEW 7 AGREEMENT BETWEEN THE CITY OF BOYNTON BEACH AND BANK OF 8 AMERICA; THE UMBRELLA AGREEMENT AND THE ACCEPTANCE OF 9 TREASURY SERVICES; AND PROVIDING AN EFFECTIVE DATE. 10 11 12 WHEREAS, the City of Boynton Beach has had a continuing contract with Bank of 13 America that has been automatically renewed over the past several years; and 14 WHEREAS, the City of Orlando awarded Bank of America a five-year contract as a result 15 of RFP No. 20-0276 for Banking Services. Agreement.Term: May 15, 2021 through May 14, 2026, 16 with the option for two (2) two-year renewals; and 17 WHEREAS, the City of Boynton Beach would like to piggyback this agreement to take 18 advantage of the competitive rates afforded the City of Orlando through the award of RFP No. 19 20-0276 to Bank of America; and 20 WHEREAS, the City Commission of the City of Boynton Beach, Florida deems it to be in 21 the best interests of the citizens and residents of the City of Boynton to approve the piggyback 22 of the City of Orlando Banking Services RFP No. 20-0276 and authorize the City Manager to sign 23 the new Agreement between the City of Boynton Beach and Bank of America; the Umbrella 24 Agreement and the Acceptance of Treasury Services. 25 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF 26 BOYNTON BEACH, FLORIDA, THAT: 27 28 Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as 29 being true and correct and are hereby made a specific part of this Resolution upon adoption 30 hereof. 31 Section 2. The City Commission hereby approves the piggyback of the City of 32 Orlando Banking Services RFP No. 20-0276 and authorizes the City Manager to sign the new 33 Agreement between the City of Boynton Beach and Bank of America; the Umbrella Agreement S:\CA\RESO\Agreements\Piggy-Back Agmts With Bank Of America-Reso.Docx 34 and the Acceptance of Treasury Services. A copy of the Agreement is attached hereto and 35 incorporated herein as Exhibit "A". 36 Section 3. This Resolution shall become effective immediately upon passage. 37 PASSED AND ADOPTED this 5th day of September, 2023. 38 CITY OF BOYNTON BEACH, FLORIDA 39 YES NO 40 j 41 Mayor-Ty Penserga 42 43 Vice Mayor-Thomas Turkin 4bcerri- 44 / 45 Commissioner-Angela Cruz �/ 46 �/ 47 Commissioner- Woodrow L. Hay 48 49 Commissioner-Aimee Kelley 50 51 VOTE -0 52 ATTEST: 53 54 55 11 .! 41 / L ' _��- 56 Mayl-eI e Jesus PA, MMC Ty Pen . 57 City Cl: . Mayor 58 59 ;;,C°N B£���� AP•ROVED AS TO FORM: 60 'coo.,Q�RATE ..CyhI1 61 (Corporate Seal) .4. ,o� li -TT i �'. OHO . 63 , David N. Tolces 64 'k_ ••'••.....,-..,% Interim City Attorney .`'‘..„- --- S:\CA\RESO\Agreements\Piggy-Back Agmts With Bank Of America-Reso.Docx Umbrella Agreement for Government Banking Services This Umbrella Agreement for Government Banking Services(the"Agreement")is made and entered into as of the date of the last signature below("Effective Date"),by and between City of Boynton Beach(the"Client"or"City")and Bank of America,N.A.,a national banking association(the"Bank"). WHEREAS,Bank and Client have entered into that certain Global Transaction Services Terms and Conditions and Acceptance of Services(together,the"T&C")(as may be amended from time to time)for the provision of various banking services by Bank to Client;and WHEREAS,on May 16,2020,the City of Orlando,Florida,("Orlando")issued Request for Proposal RFP20-0276(the"RFP")for certain banking services identified in the RFP and on the defined below Fee Schedule("Services");and WHEREAS,on July 1,2020,the Bank issued its response to the RFP(the"Proposal")and was awarded the business;and WHEREAS,pursuant to the laws of the State of Florida, Client is duly authorized to purchase Services from the Bank on the basis of the Orlando RFP;and WHEREAS,Client wishes to procure one or more Services from the Bank on the basis of the Orlando RFP and Bank's Proposal,as applicable to the Client,for the line-item pricing contained in the Proposal subject to the schedule of fees as provided in the attached to,and incorporated into,this Agreement Exhibit A,Schedule of Fees("Fee Schedule");and WHEREAS,the parties wish to enter into this Agreement for the purpose of specifying the term,fees and constituent documents of the Agreement between Client and Bank regarding the Services. NOW,THEREFORE,in consideration of the foregoing,the mutual covenants contained herein and other good and valuable consideration,the parties agree as follows: 1. Integrated Agreement.The entire and integrated Agreement between Client and Bank related to the Services shall consist of this Agreement(including Exhibit A,Fee Schedule),T&C(including user documentation and set-up forms),and Bank's Deposit Agreement and Disclosures.In the event of a conflict among any of the preceding documents,such documents shall govern in the following order of precedence:(1)this Agreement,(2)T&C(including user documentation and set-up forms) and(3)Bank's Deposit Agreement and Disclosures.The integrated agreement supersedes all prior negotiations, representations,statements,and agreements,whether written or oral,regarding the Services. 2. Term.The term of this Agreement shall begin on Effective Date and continue through and including May 14,2026(the "Term"),unless earlier terminated as provided for in this Agreement. The Term may be extended by written mutual consent of the parties,subject to the Client submitting in writing to Bank its intent to extend the Term no later than 60 days prior to May 14,2026.Bank in its sole discretion may terminate or continue providing the Services thereafter,however if the Client continues to utilize the Services without a renewal amendment or other agreement with the Bank first being signed,such Services shall be provided by the Bank in accordance with the then current version of the Global Transaction Services Terms and Conditions available on the Bank's Website until the parties agree in writing otherwise. 3. Commencement of Performance.Except as otherwise agreed by the parties,Bank shall begin performing each Service upon execution and delivery of this Agreement,the pertinent service agreement(s),and the related set-up form(s).Bank shall continue to perform such Services during the Term. 4. Pricing for Services not covered by the Proposal.Pricing for additional services and options that are not covered by the Proposal or the Fee Schedule,and that the Client may want to add now or in the future,will be negotiated at the time of set-up and upon execution of applicable documentation,if required. 5. Notices.Except as may otherwise be specified in the applicable service-level agreement(s)or set-up form(s),notices to Client and Bank shall be sent by U.S.mail,postage prepaid,to the addresses set forth below: City of Boynton Beach Bank:Bank of America NA Attention:Daniel Dugger,City Manager Attention:Glenna Thompson 100 East Ocean Ave 101 E.Kennedy Blvd. Boynton Beach,Florida 33435-3838 FL 1.400.05.07.Tampa,Florida 33602 Changes in the respective address set forth above may be made from time to time by any party upon written notice to the other party. 00-35-3112NSBW 03-06-2006(11-03-2014) Umbrella Agr Oct 1,2022 City of Boynton Beach on the basis/Orlando Pricing Page 1 of 9 6. Severability. Should any provision of this Agreement be deemed illegal or otherwise unenforceable, that provision shall be severed,and the remainder of this Agreement shall remain in full force and effect. The waiver of any right or election of any remedy in one instance,by either party,shall not affect any rights or remedies in another instance. A waiver shall be effective only if made in writing and signed by an authorized representative of each party. 7. Sovereign Immunity. Nothing contained in this Agreement shall be considered or construed to waive CITY's rights and immunities under the common law or Section 768.28,Florida Statutes,as may be amended. 8. Binding Authority.Each person signing this Agreement on behalf of either party individually warrants that he or she has full legal power to execute this Agreement on behalf of the party for whom he or she is signing,and to bind and obligate such party with respect to all provisions contained in this Agreement. 9. Attorney's Fees. In the event that either party brings suit for enforcement of this Agreement, each party shall bear its own attorney's fees and court costs. 10. The City is a public agency subject to Chapter 119, Florida Statutes. The Vendor shall comply with Florida's Public Records Law. Specifically,the Contractor shall: A. Keep and maintain public records required by the City to perform the service; B. Upon request from the City's custodian of public records,provide the City with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in chapter 119, Fla.Stat.or as otherwise provided by law; C. Ensure that public records that are exempt or that are confidential and exempt from public record disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and,following completion of the contract, Contractor shall destroy all copies of such confidential and exempt records remaining in its possession once the Contractor transfers the records in its possession to the City;and D. Upon completion of the contract,Contractor shall transfer to the City,at no cost to the City,all public records in Contractor's possession All records stored electronically by Contractor must be provided to the City, upon request from the City's custodian of public records,in a format that is compatible with the information technology systems of the City. E. IF THE CONTRACTOR HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119,FLORIDA STATUTES, TO THE CONTRACTOR'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT,CONTACT THE CUSTODIAN OF PUBLIC RECORDS: MAYLEE DE JESUS,CITY CLERK 100 E.OCEAN AVENUE BOYNTON BEACH,FLORIDA,33435 561-742-6061 DeJesusMna,bbfl.us The foregoing notwithstanding,the parties agree as follows:(i)nothing herein will obligate the Bank to comply with the Public Records Act to the extent that said law does not apply to the Bank or the Services provided hereunder;(ii) with respect to the Public Records Act,the parties agree that the Bank is not an agent of or acting on behalf of the City in performing the Services hereunder;and(iii)nothing herein shall require the disclosure of information which constitutes a"trade secret"within the meaning of Section 812.08(1),Florida Statutes. 11. Scrutinized Companies—287.135 and 215.473. By execution of this Agreement,Bank certifies that Bank is not participating in a boycott of Israel except as authorized by applicable Federal Laws.The Bank further certifies that Bank is not on the Scrutinized Companies that Boycott Israel list,not on the Scrutinized Companies with Activities in Sudan List,and not on the Scrutinized Companies with Activities in the Iran Petroleum Energy Sector List,or has Bank been engaged in business operations in Syria without applicable Federal authorization.Subject to limited exceptions provided in state law,the City will not contract for the provision of goods or services with any scrutinized company referred to above. Submitting a false certification shall be deemed a material breach of contract.The City shall provide notice,in writing,to the Bank of the City's determination concerning the false certification.The Bank shall have five(5)days from receipt of notice to refute the false certification allegation.If such false certification is discovered during the Term,the Bank shall have ninety(90)days following receipt of the notice to respond in writing and demonstrate that the determination of false certification was made in error. If the Bank does not demonstrate that the City's determination of false certification was made in error then the City shall have the right to terminate the Agreement for convenience in accordance with this Agreement. 12. Contractor certifies that it is aware of and complies with the requirements of Section 448.095, Florida Statutes, as may be amended from time to time and briefly described herein below. 00-35-3112NSBW 03-06-2006(11-03-2014) Umbrella Agr Oct 1,2022 City of Boynton Beach on the basis/Orlando Pricing Page 2 of 9 1. Defmitions for this Section: A."Contractor"means a person or entity that has entered or is attempting to enter into a contract with a public employer to provide labor,supplies,or services to such employer in exchange for a salary,wages, or other remuneration."Contractor"includes,but is not limited to,a vendor or consultant. B. "Subcontractor"means a person or entity that provides labor,supplies,or services to or for a contractor or another subcontractor in exchange for a salary,wages,or other remuneration. C. "E-Verify System"means an Internet-based system operated by the United States Department of Homeland Security that allows participating employers to electronically verify the employment eligibility of newly hired employees. 2. Registration Requirement; Termination: Pursuant to Section 448.095, Florida Statutes, effective January 1, 2021, Contractors, shall register with and use the E-Verify System in order to verify the work authorization status of all newly hired employees.Contractor shall register for and utilize the U.S.Department of Homeland Security's E-Verify System to verify the employment eligibility of: A. All persons employed by a Contractor to perform employment duties within Florida during the Term; and B. All persons(including sub-vendors/sub-consultants/sub-contractors)assigned by Contractor to perform work pursuant to the contract with the City of Boynton Beach.The Contractor acknowledges and agrees that registration and use of the U.S.Department of Homeland Security's E-Verify System during the term of the contract is a condition of the contract with the City of Boynton Beach;and C. The Contractor shall comply with the provisions of Section 448.095,Fla. Stat.,"Employment Eligibility,"as amended from time to time.This includes,but is not limited to registration and utilization of the E-Verify System to verify the work authorization status of all newly hired employees.Contractor shall also require all subcontractors to provide an affidavit attesting that the subcontractor does not employ,contract with,or subcontract with,an unauthorized alien.The Contractor shall maintain a copy of such affidavit for the duration of the contract.Failure to comply will lead to termination of this Contract,or if a subcontractor knowingly violates the statute,the subcontract must be terminated immediately.Any challenge to termination under this provision must be filed in the Circuit Court no later than twenty(20)calendar days after the date of termination.Termination of this Contract under this Section is not a breach of contract and may not be considered as such. If this contract is terminated for a violation of the statute by the Contractor,the Contractor may not be awarded a public contract for a period of one(1)year after the date of termination. 13. Disputes.Any disputes that arise between the parties with respect to the performance of this Agreement,which cannot be resolved through negotiations or arbitration, shall be submitted to a court of competent jurisdiction in Palm Beach County,Florida. To the extent allowed by law, each party waives the right to a trial in front of a jury and agrees that all matters may be heard and decided by a judge without a jury. This Agreement shall be construed under Florida Law. 14. Indemnification by Contractor.Intentionally omitted. IN WITNESS WHEREOF,the parties have executed this Agreement as of the Effective Date. CITY OF BOYNTON BEACH BANK OF AMERICA,N.A. CLIENT'S LEGAL NAME), (BANK NAME) \ By: J411 : •. (Signature) Name: DewueI , is•, Name: ('nn ,* Type) (Print or Type) Title: CAse Title: Date: ` 1a�3 Date: (Print or Type) (Print or Type) By: d ," — e) Name: ts, _ _ •= 00-35-3112NSBW 03 !•-2006(11-03-2014) Umbrella Agr Oct 1.2022 Cay of Boynton Beach on the basis/Orlando Pricing Page 3 of 9 ' CfC71 4, - 1 Cix\) t)Nti (Print or Type) Title: (Print or Type) 00-35-3112NSBW 03-06-2006(11-03-2014) Umbrella Agr Oct 1,2022 City of Boynton Beach on the basis/Orlando Pricing Page 4 of 9 Exhibit A Fee Schedule for the City of Boynton Beach, FL Effective Date: Service Code Description Frequency Price Prime plus COLL OVERDRAFT INTEREST CHARGE AMOUNT BASED See Disclosures margin DEPOSIT BANK ASSESSMENT PER$1000 0.1667 LEDGER OVERDRAFT PER DAY PER DAY 50.0000 ACCOUNT MAINTENANCE PER ACCOUNT/PER MONTH 2.5000 ACH BLOCKS AUTH ADD-CHANGE PER ADD/CHANGE 5.0000 ACH BLOCKS AUTH INSTRUCTIONS PER BLOCK AND PER FILTER 0.1500 ACH BLOCKS AUTH MAINTENANCE PER ACCOUNT 10.0000 ACH CREDIT RECEIVED ITEM PER ITEM 0.0200 ACH DEBIT RECEIVED ITEM PER ITEM 0.0200 ACH DELETE-REVERSAL BATCH FILE PER BATCH OR FILE 100.0000 ACH INPUT-FILE PER FILE 4.0000 ACH MONTHLY MAINTENANCE PER ACH COMPANY ID, PER MONTH 8.0000 ACH NOTIF OF CHANGE (NOC) PER ITEM 0.7500 ACH OFF US CREDITS PER ITEM 0.0200 ACH OFF US CREDITS-SAME DAY PER ITEM 0.5000 ACH OFF US DEBITS PER ITEM 0.1100 ACH ON US CREDITS PER ITEM 0.0200 ACH ON US CREDITS-SAME DAY PER ITEM 0.0200 ACH ON US DEBITS PER ITEM 0.0500 ACH POS PAY EXCEPTIONS-PAID PER ITEM 5.0000 ACH POSITIVE PAY ACCT MAINT PER ACCOUNT 15.0000 ACH REPORTS-ELECTRONIC PER REPORT 1.2800 ACH RETURN ITEM PER ITEM 0.7500 ACH UNAUTHORIZED ENTRY PER ITEM 4.5000 ARP OUTPUT PROCESSING PER ITEM PER ITEM 0.0000 ARP PARTIAL PPAY ITEM PER CHECK PAID 0.0450 ARP PARTIAL PPAY MAINT-SUPP PER CYCLE/PER ACCOUNT 20.0000 ARP POSITIVE PAY RETURN-OTHER PER ITEM 15.0000 ARP PPAY INPUT FILE-TRANS PER FILE 0.0000 ARP PPAY MAINT-NO RECON PER MONTH/PER ACCOUNT 15.0000 ARP RECON OUTPUT FILE PER FILE 8.0000 ARP VOID CANCEL ITEMS PER CANCEL 0.0100 BANK BY MAIL DEPOSIT PER DEPOSIT 5.0000 BANKING CENTER DEPOSIT PER DEPOSIT 3.0000 BOOK CREDIT PER WIRE 1.0000 CASHPRO ACCOUNT TRANSFER PER TRANSACTION 1.0000 CASHPRO ARP REPORTS PER MONTH/PER ACCOUNT 3.7500 CASHPRO GP ACCTS ENTITLED 0.0000 CASHPRO GP CUST MNT TMPLT STRG PER ITEM 1.0000 CASHPRO IMAGE SUBSCRIPTION PER ACCOUNT/PER MONTH 1.0000 CASHPRO ONLINE CDR ACCOUNT PER ACCOUNT/PER MONTH 12.0000 CASHPRO ONLINE CDR ITEM PER ITEM 0.0300 CASHPRO ONLINE IMAGE RETRIEVAL PER ITEM 0.0000 CASHPRO ONLINE PDR ACCOUNT PER ACCOUNT/ PER MONTH 10.0000 00-35-3112NSBW 03-06-2006(11-03-2014) Umbrella Agr Oct 1,2022 City of Boynton Beach on the basis/Orlando Pricing Page 5 of 9 CASHPRO ONLINE PDR ITEM PER ITEM STORED 0.0200 CASHPRO ONLINE RESEARCH ITEM PER ITEM 0.0000 CASHPRO ONLINE SUBSCRIPTION PER ID/PER MONTH 20.0000 CASHPRO REPORT EMAIL SCHEDULED PER EMAIL 0.0000 CASHPRO REPORTING SUBSCRIPTION PER CO ID/PER MONTH 10.0000 CHANGE ORDER BKG CTR PER ORDER 8.0000 CHECK DEPOSIT-ICL or RDSO PER DEPOSIT 0.7500 CHECK DEPOSIT-PAPER PER ITEM 0.0000 CHECKS DEPOSITED-BKG CENTER PER ITEM 0.0400 CHECKS DEPOSITED-CASH VAULT PER ITEM 0.0400 CHECKS DEPOSITED-FOREIGN ITEM PER ITEM 3.0000 CHECKS DEPOSITED-ITEMS PROC PER ITEM 0.1600 CHECKS DEPOSITED-LOCKBOX PER ITEM 0.0400 COIN DEPOSIT-NON STD BAG-VLT PER BAG 7.0000 COIN SUPP ROLL-BKG CTR PER ROLL 0.2500 COIN SUPP ROLL-BOX-BKG CTR PER ROLL 0.2000 CREDITS POSTED-ELECTRONIC PER ITEM 0.0200 CURR DEPOSITED-PER NOTE-VLT PER NOTE 0.0216 CURR SUPP$100-BKG CTR PER$100 0.3500 CURR-COIN DEP-$100-BKG CTR PER$100 0.3500 CURR-COIN DEP-$100-QBD-ND PER$100 0.2500 DEBITS POSTED-ELECTRONIC PER ITEM 0.0200 DEPOSIT ACCOUNT STMTS OVER 1 PER STATEMENT(OVER 1 PER MONTH) 0.0000 DEPOSIT CORRECTION-CASH PER CORRECTION 4.0000 DEPOSIT CORRECTION-NONCASH-RDS PER CORRECTION 2.0000 ELEC WIRE OUT-BOOK DB PER WIRE 2.0000 ELEC WIRE OUT-DOMESTIC PER WIRE 3.0000 GCS TRANSACTION HISTORY PER CALL 5.0000 GENERAL DISB CKS PAID-TRUNC PER ITEM 0.0250 IMAGE ARCHIVE-7 YEARS PER ITEM 0.0450 IMAGE ARCHIVE-90 DAYS PER ITEM 0.0000 IMAGE DEPOSITED ITEMS-ICL PER ITEM 0.0600 IMAGE DEPOSITED ITEMS-RDSO PER ITEM 0.0600 INCOMING DOMESTIC WIRE PER WIRE 2.0000 INTEREST BEARING ACCOUNT MAINTENANCE PER ACCOUNT/PER MONTH 5.0000 NON-RELATIONSHIP CK CASHED PER ITEM 0.0000 PH OR STND ORDER TMPLT STORG PER ITEM 0.0000 PHOTOCOPY-MANUAL PER ITEM 10.0000 POSITIVE PAY EXCEPTIONS PER ITEM 0.0000 QBD-NIGHT DROP DEPOSIT PER DEPOSIT 2.0000 REMOTE DEPOSIT ACCOUNT MAINT PER ACCOUNT 25.0000 REMOTE DEPOSIT CKC IMAGE PROC PER ITEM 0.0400 REMOTE DEPOSIT FOREIGN ITEM PER ITEM 6.0000 RETURNS-CHARGEBACK PER ITEM 1.0000 RETURNS-RECLEAR PER ITEM 1.2500 RETURNS-RECLEAR SERVICES PER MONTH 1.0000 _STOP PAY AUTOMATED<=12 MONTHS PER STOP PLACED OR RE-ISSUED 3.0000 STOP PAY AUTOMATED>12 MONTHS PER STOP PLACED OR RE-ISSUED 20.0000 SUPPLIES-BAGS,TICKETS,MISC AMOUNT 0.0000 00-35-3112NSBW 03-06-2006(11-03-2014) Umbrella Agr Oct 1,2022 City of Boynton Beach on the basis/Orlando Pricing Page 6 of 9 VAULT DEPOSIT PER DEPOSIT 1.2500 WIRE MONTHLY SUBSCRIPTION PER MONTH 10.0000 WLBX CARD PAYMENT REJECT PER CARD TRANSACTION 2.5000 WLBX CASHPRO REC ARCHIVE 7 YR PER IMAGE 0.0525 WLBX CASHPRO REC MAINTENANCE PER MONTH 15.0000 WLBX CASH PRO REC PER IMAGE PER IMAGE 0.0200 WLBX CORRESPONDENCE PER ENVELOPE 0.3500 WLBX COURIER DELIVERY OF PKG AMOUNT BASED 0.0000 WLBX DEPOSIT PREP PER DEPOSIT PER DEPOSIT 1.2500 WLBX DOCUMENT RETURN PKG PREP PER MONTH 40.0000 WLBX DUAL SIDED IMAGE MAINT PER LOCKBOX PER MONTH 10.0000 WLBX IMAGE DOCUMENTS IMAGED PER IMAGE 0.0200 WLBX IMAGE PDF MAINTENANCE PER MONTH 0.0000 WLBX IMAGEDROP MAINTENANCE PER MONTH/PER ACCOUNT 0.0000 WLBX IMAGEDROP PER FILE PER FILE 5.0000 WLBX IMAGEDROP PER IMAGE PER IMAGE 0.0000 WLBX LOCKBOX MAINT PER BOX PER LOCKBOX PER MONTH 175.0000 WLBX LOCKBOX PROC PER ITEM PER CHECK 0.2800 WLBX MINIMUM CHARGE MINIMUM CHARGE 0.3500 WLBX PAYEE VALIDATION PER ITEM PER CHECK 0.0000 WLBX REJECTED ITEM PER ITEM 0.4000 WLBX USPS 1ST CLASS MAIL SHIP AMOUNT 0.0000_ WLBX WALK-IN COURIER PKG ITEM PER ITEM 2.0000 ZBA PER TRANSACTION PER TRANSACTION 0.0000 ZBA-DEPOSITORY+ MASTER MAINT PER ACCOUNT 0.0000 ZBA-SUBSIDIARY ACCOUNT MAINT PER ACCOUNT/PER MONTH 0.0000 00-35-3112NSBW 03-06-2006(11-03-2014) Umbrella Agr Oct 1,2022 City of Boynton Beach on the basis/Orlando Pricing Page 7 Of 9 City of Boynton Beach, Florida 12/2/2022 Contract Renewal Banking Services Disclosures: Bank of America has endeavored to provide The City of Boynton Beach, Florida ("The City")with a comprehensive fee schedule based on your current services. Given the number of services and product options available to our clients, it is difficult to determine or anticipate all products and services that may be applicable to "The City" for future enhancements. Therefore, banking services utilized but not specifically referenced in this proposal will be charged for and appear on the monthly analysis statements. Pricing for future enhanced services is typically based on multiple factors and can often be more aggressively priced if we understand the total scope of services desired and the associated volumes. Therefore, it is most advantageous for"The City"to allow mutually negotiated pricing for enhanced solutions to be provided upon mandate and prior to set-up. Deposit Insurance Assessment (formerly known as FDIC) is subject to change at any time. It is based on an account's average positive ledger balance for the month.The Assessment Fee may include deposit insurance, FICO assessment and other charges provided by law. This charge can be offset with earnings credit on eligible collected balances.The Assessment Fee is computed based upon the current monthly multiple and the average ledger deposit balance.The current monthly assessment factor is 0.1667 per$1,000 which equates to 0.20% per annum and is subject to change.The monthly calculation is Ledger balance divided by$1,000 x 0.1667. Please be advised that your future Account Analysis Statements may include the following fee line item entitled "Balance Related Fee".We are not assessing the Balance Related Fee at the time of submission, but we may need to assess this fee as a result of market conditions (e.g., interest rates turn negative) or for other reasons(e.g., costs). The Reserve Rate, historically at 10%, is currently at zero, but subject to change without notice. Our ECR and interest rates both are "managed" rates and will move directionally with the market. The Earnings Credit Rate (ECR) on your account is used to calculate your Earnings Allowance, which is based on your average investable balance. Bank of America bases your EAR on several prevailing market indicators and therefore it may vary. The Collected Overdraft Interest Charge Rate on your account is used to calculate your Collected Overdraft Interest Charge,which is based on your negative collected balance. The rate on your account may vary; and is subject to change. When determining this rate, Bank of America considers several factors and generally bases this rate on our Prime Rate plus a margin. The margin may change periodically. 00-35-3112NSBW 03-06-2006(11-03-2014) Umbrella Agr Oct 1,2022 City of Boynton Beach on the basis/Orlando Pricing Page 8 of 9 It is the responsibility of"The City" to review their monthly analysis statement and notify Bank of America of any discrepancies within 45 days of receipt of the analysis statements. Once "The City" contacts Bank of America,the discrepancies and/or additional charges can be reviewed and a mutually agreed upon price can be applied for these services. Additional information regarding pricing or fees may be obtained from your Bank of America representative. Supplies: Deposit supplies such as deposit slips, endorsement stamps and bags are provided at cost plus shipping and handling and are subject to change without notice.These supplies can be ordered through our Client Services Center or a vendor of choice. These charges can be assessed to analysis upon request. o Deposit tickets/slips vary depending upon type.The cost begins at$26. o Endorsement stamps (self-inking) start at$24. o Deposit bags (plastic, disposable,tamper-evident)vary according to style and size and are shipped 100 per box, starting at$24. o Coin and currency wrappers are shipped 1,000 per box, starting at$10. o Envelopes are not provided by the bank or its vendor Harland Clarke. 00-35-3112NSBW 03-06-2006(11-03-2014) Umbrella Agr Oct 1,2022 City of Boynton Beach on the basis/Orlando Pricing Page 9 of 9